European Tribune

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If UK is not Europe, I guess Switzerland is as well not Europe.
So maybe one should ask the Swiss CB to deal with UBS and neither the Fed nor the ECB.

Bloomberg has a list with the announced losses by bank. Roughly 50% of all losses are from US based banks, a bit more than a 6th by UBS and Credit Suisse. About 10% by German banks, about 5% by French banks and in the same order UK banks.
Interestingly the more than 44 bn dollar losses of Swiss banks are of course the biggest compared with the GDP of the country where they are based.

Gemach, gemach

by Martin (weiser.mensch(at)googlemail.com) on Wed Apr 2nd, 2008 at 12:39:58 PM EST
[ Parent ]
world to quit overweighting CHF in their reserve allocations. EUR certainly makes more and more sense every passing week.

CHF - worth a US Dollar today. Perhaps in more ways than one.

by redstar on Wed Apr 2nd, 2008 at 12:57:15 PM EST
[ Parent ]

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